The Property / Real Estate Thread

This is a discussion on The Property / Real Estate Thread within Shifting gears, part of the Around the Corner category; Dear all Bhpians,
Looking for 2/2.5 BHk in and around whitefield,Bangalore. As my office is in whitefield that is the ...

Dear all Bhpians,
Looking for 2/2.5 BHk in and around whitefield,Bangalore. As my office is in whitefield that is the sole reason for consideration. Not sure when the Metro station will be operative in this area. Any good properties that you know off which is good and free of all the legal tussles.

Subraiyr, please recheck how safe are the builder's rights and land titles.A few years ago, buyers of homes in Vaishnavi's luxury apartment towers in RMV 2nd stage, found themselves in an irretrievable legal soup, in a high court case, as they were held as not original senior genuine members of a cooperative society that owned the land. Each apartment costed above Rs 3 crores. They lost badly. The builder can again clarify to you about this case' history. All that glitters is not gold.

Dear all

Thanks to each one of you for providing your inputs. We have decided to put it on the backburner for now. The driving reason is the floor availability. My parents who are a bit aged will stay with us and 14th floor is definitely high for them to be living in. Anything in single digits would be fine

If any of you have any recommendations of good properties up for sale, do let me know as i am looking to move in to my own residence by June of this year

Booked a Three BHK - 2159 Sq.Ft. Apt at Yelahanka under a 3.99% scheme which Prestige properties was running.
Got a loan from HDFC at 3.99% for ten years. Looked to be a good deal and also this being a ready to move in property - Prestige Garden Bay.

Looks like we can invest in REITs this year. Being very liquid, wouldn't it make sense as an investment. Of course, if we are buying a home for staying, there's no trade off. What is the risk do you guys foresee in investing in REITs?

All equitable mortgages are supposed to be registered with CERSAI. It provides a public search service for a fee of Rs. 10.

Has anyone managed to search for a property and get a valid report?

The search fields, like pincode and survey number of property, are not very unique. I could not get the details of my mortgaged property from the search. A search with owner names or PAN would have been much more unique.

2) If the answer to question 1 is 'YES'
a) Which banks do provide loan for bank auctioned properties?
b) How much % of market value can I avail loan (considering the age of property)
c) What will be the average ROI & tenure?

No trace of promoters who were arrested and released on bail
The fate of thousands of families hangs in balance as real estate firms TGS Constructions, Dreamz Properties and Gruh Kalyan, have shut down all their offices across the city.

The three firms were managed by the same group of people comprising Sachin Naik, Mandeep Kaur, Disha Choudhary, Shataparni Majumdar, Siddharth and others. These companies placed advertisements in prominent dailies and local television channels, offering houses at low prices in prime locations.

The property owners, who have been running from pillar to post to get their money back, were in for a shock when they found that all the offices of the three companies were shut.
Please do read the entire article athttp://www.deccanherald.com/content/...hop-leave.html

Has the state Govt enacted RERA? If so, have the regulators been appointed. Write to them if they have been. While they may not take up a pre RERA case, the least that they could do is forward the same to the Government to take action.

I need guidance / advice about the flat I am in process of selling. I know it is more about personal choice but not having experienced the other aspects like staying in rented accommodation off late, it makes more difficult to come to a decision.

My background: Middle class family. I am working in IT field in Bangalore. Age in mid forties. Wife not working - so single income family. Son still in school. No other property in Bangalore.

My apartment : Small 2 BHK apartment in 4000 sqft. area with no extra amenities and is close to my son's school. Bought this apartment 11 years back and still in good condition. Stay is comfortable as of now. Had water issues but another bore-well was drilled and no water issues - as of now.

Why I am selling:

1. Plan to move to home town once the career in IT is over. Have a plot there - so I want to use the sale proceeds of the apartment sale to construct house there. I plan to give it on rent there and stay in rented house here. Post retirement, I plan to stay in the house in native.
2. Half the owners (who bought from the builder 11 years back) have left and have bought 3 BHK / villas etc. The new ones have not much interest in the apartment activities and keep to themselves.
3. Afraid if the bore-well dries up in future, there is no other way we can drill another one as it was the only point right next to apartment compound wall.
4. As the building ages, the resale value also "might" go down.

Considering my age as factor, I am not keen on buying a bigger apartment with amenities - say costing me around 70 lakhs+ or so. I do not want to burden myself with high EMIs with few more years of career left. I am thinking of staying in rented accommodation for another decade or so and move back to my home town.

With rentals increasing every year, shifting to another place so that the house is close to son's school and other factors, I am in dilemma whether to go ahead with my decision.

@AltoLXI,For starters you are not that old. Go ahead sell this and buy an new apartment if finances permit. Your house in your native will be old if built now and rented till you retire. I guess you have a good 20 years to retirement. Closer to retirement you could sell your apartment and then construct the house.